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Non-Tech : Cityscape Financial (CTYS)

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To: Zeev Hed who wrote (1382)	10/24/1997 7:08:00 PM
From: Rational	Read Replies (2) of 2544

Zeev: The system is like this: When a block trade (say a sell) is placed, the MM keeps selling at as high prices as possible until enough buyers have been sold the block. Exactly at the time a block is filled, the tick volume and price for the last increment at which the block is filled is recorded. There is no way that these blocks could be buy orders. As Shane says (in the next post), the announcement of bad news will make the small investors stampede to dump. This is my fear that the price will tank like hell at that time. If good news is to come, the block sellers would have known and not sold. Actually, following two block sales of 250,000 each, I sold mine at 9 1/8. At that time I was very certain that the price would fall sharply. Now, I am kicking myself around for not thinking about shorting a sure shot. I wish I were a little more cool that day to short some shares to recover some of my losses. The block trades have guided me well in circumventing bigger losses. I do not observe every moment, but get the tick prices and volumes from time to time. Sankar

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